Time Vs Money?

sharloid

Are there any disadvantages about working part time and just getting by?

My mum recently passed away and I'll inherit the house. It's only a small two up two down in my home town.

The OH and I have a house that's worth a little more than my mum's and we both work at full time jobs we hate.

We're seriously considering moving to my mum's house, without jobs, and then just trying to find something part time/with an agency whilst we're there.

I value time over money. If we move back to the small town we could walk to the shops, spend time cooking and taking the dog for long walks around the countryside.

Our calculations show that for a 6 month buffer we'd need £2500, which is realistic.

What would you do?

Time Vs Money?


Apologies if it's in the wrong place.

Rosetta92

Hi Sharloid :wave:

I'd be tempted to make the move, but I'd check out local employment first and perhaps see if your own house could be rented out for a while before you sell it. That way you've got a source of income, and you can move back if you need to.

Also think about whether you're wanting to move back as you're missing your Mum - very natural but you need to be sure the move is right for the longer term.

Good luck with your plans

Rosetta

adelight

It sounds like a wonderful opportunity that you're obviously keen on and I'd go for it After the appropriate research of course! Can you get a job in the area? Is everything close enough or do you have reasonable reliable transport? I would personally try to get jobs in the new area and once one of you has something, move out to the new area and rent your house out on at least a 12 month contract before you sell it. This way you have a chance to get settled in the new area whilst having a little income from renting the house and if you don't like it you still have a house to move back to at the end of the rental contract.

modern_millie_2

If I was in your shoes, and I was sure, absolutely, that the jobs would not improve, I would go for it. There is nothing more soul destroying than a job you hate. I am assuming that you have a strong relationship and that you both feel the same way.

Disadvantages - if you change your minds, you may find you can't return to your previous lifestyle. There are probably things you will have to do without - holidays, for example. You could get tired of each other's company!

On the other hand, you may find life much richer. this is more or less where my OH and me are - he has a very small craft business, hardly earns enough to call it a business, I work part time in seasonal jobs. After we left our 'proper' jobs, we agreed we would do all we could to avoid working in jobs we hated ever again. We have time to enjoy the countryside, read, cook, spend time with our DD and our pets. We are lucky to have some savings to fall back on. We haven't been abroad for years, have little that is up to date, are pretty frugal on the whole. We are happier than when we were earning three times as much.

Having said all that, do think carefully before you take the plunge! Best of luck, whatever you do.

debtfreenow

Could you rent your mothers' place out for the time being and give yourself time to think about the best long-term plan?

If you had, say, a couple of 6 months' renting out periods in succession of your mothers' house then, by then, things should have "stabilised" enough for you to make long-term decisions about the future.

I'm only saying what I myself might do if I was a bit unsure and wanted to keep my options open. In that case, it would be just down to how to find reliable tenants whilst I "made up my mind". So, personally, that's what I would advocate whilst "the dust settles".

Stephen_Leak

None that I can see.

I've just lost my full time job and I am surviving on my BT pension. At least this should go up with inflation, where my job in public sector was actually costing me more each year. Inflation at 4.5%, but pay rise limited to 2% (ie. a 2.5% pay cut), in order to repair the damage I did to the economy (I thought it was the bankers), and soon to be frozen.

Anyway, despite my best frugal efforts, ends won't meet forever. So, I'm looking for a nice little part-time job. All I ask is to be able to pay the bills, have some fun every now & again, and save a little bit for the next rainy day.

And to have some time to have the fun in, instead of eat, sleep & work.

sharloid

Thanks for all the advice so far! Neither of us had thought about renting our current house out - I guess we both thought it would be too much bother. Both our house and my mum's are half rennovated and we didn't really envision ourselves buying a new kitchen and not getting to use it ourselves! I guess it's another thing to think about.

I think it's a good opportunity to change our lives. The only downside is not having a job seems scary, but we're sensible and do have some savings.

I wonder why more people don't choose to work part time? I'd rather have an hour walking the dog than an hour's commute!

valk_scot

Do the sums, do the research, talk it over again and don't rush into things. But it does sound like it's worth a great deal of consideration as an idea. OH and I thought long and hard about me packing in my really rather good job, becoming a full time SAHM and living on one income but 18 years on we know it was the best decision we ever made. There's more to life than slogging away at a job you hate to finance a lifestyle that doesn't make you happy tbh. As long as you can pay the bills and have enough left over to enjoy a modestly happy lifestyle then yes, contentment over consumerism any time for me.

BEAT_THE_DEBT

I know where you are coming from . Boring i know but think about how it will affect your pension. I think time is priceless and would love to be part time. However i have been part time and ended up getting another job to fill the gaps and it wasnt really for the money at the time.x

Shortie

Rosetta92 wrote: »

Hi Sharloid :wave:

Also think about whether you're wanting to move back as you're missing your Mum - very natural but you need to be sure the move is right for the longer term.

I would second this sentiment. As lovely an idea as it might be to move into your Mum's house, it might not be the best move - everyone is different and some people would thrive on this, but for the others the emotional attatchment to a house their parent/s lived in can be too much, and one that's hard to let go of when you're in it.

Why not look to rent your Mum's house for extra income to go part time at work (or another place if not where you are now), or keep your house and rent it, and if you find it hard going living in your Mum's house, you have your current house to mive back into when the tenancy contract is up for renewal?

jackyann

I wonder about the following:
your age which affects things like:
children - do you have any or want any?
the jobs you have - are they ones you could pick up after a gap, or do you need to keep up-to-date?
your pension - do you already have some paid in and is it enough?

what about the area?
It sounds nice, but what jobs are available, at what sort of pay and is travel to them expensive?
Is it the kind of property that you could have a good veg garden / keep chickens etc.?

Do you have a plan B?